Diesel prices skyrocket to new record high
Diesel fuel prices across the United States during the week ending May 2 increased by 35 cents — the third-largest single-week increase of 2022, bringing the national average for a gallon of on-highway diesel to $5.51, blowing past diesel’s previous record high set during the week ending March 14 at $5.25.
According to the Department of Energy’s Energy Information Administration, at $5.51, diesel prices are now $2.37 per gallon higher than the same week a year ago and $3.11 higher than the same week in 2020.
The most recent week’s surge was driven in large part by astronomical increases along the East Coast during the week, where New England saw fuel prices jump by 86 cents, while the Central Atlantic saw a 68-cent increase.
Prices increased in all other regions across the country as well, led by a 34-cent increase in the Midwest and a 32-cent increase in the Lower Atlantic.
The nation’s most expensive diesel can be found in California at $6.41 per gallon, followed by New England at $6.10 per gallon.
The cheapest fuel can be found in the Gulf Coast region at $5.21 per gallon, followed by the Midwest region at $5.33.
Prices in other regions, according to EIA, are:
- Central Atlantic — $6.08
- Lower Atlantic — $5.40
- Rocky Mountain — $5.41
- West Coast less California — $5.58
ProMiles’ numbers during the week ending May 2 saw fuel prices increase by 13.1 cents, bringing its national average to $5.15 per gallon.
According to ProMiles’ Fuel Surcharge Index, the most expensive diesel can be found in California at $6.27 per gallon, and the cheapest can be found in the Gulf Coast region at $4.96 per gallon.